The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1887-07-17

a0NEY 2 10 8 PEI CENT, NEW
YORK EXCHANGE 1-S PREM. 4
Cotton Q"iet Kidding Gotten, 10ic
Sales Today Unim-
pertant.
APPEAL oyrIol.
SATURDAY. HvlNIHo, July l6, 1887.

oAfVhpAI nNhNtE0s WY AOs lootsl
Money from to s per cent, with
good demand and moderate supply. Nc
siles recorded at tho Stock Call Board session
today, and bids and offerings were feature.
less.
Tho local cotton market Is quiet and un.
changed. At Now Orleans spots are steady
and unchanged, with futures steady and
advanced to points on tho old crop and
to Son the new. New York spots firm and
unchanged and futures / to- points up on
old crop and i to 3 advance on the new.
Liverpool spots are unchanged and futures
are up IS to 4points.
Under the heading Bremen as Cotton
Market" the Manchester Guardian says;
Tho discussion on the causes Of the failure
Of the joint committee Of German cotton
spinners and the members Of the Bremen
Cotton Exchange to develop Bremen as q
great central market for the supply Of raw
cotton to Germany. Switzerland. Austria
and Russian Poland. continues In the Ger
man papers. II 10 admitted that the Bremen
Cotton Exchange deserves much credit 70 r
the manner in which 1t spdeavors to protect
sio iutotottt VI COttOu usINnhuu COTTON
ipipners alike, and that the arrangsu ents.
rule,, etc., are admirable, and surpass
those Of Liverpool and Havre In ex-
aeiitude and impartiality. The sams
South German Arm which opened
the discussion 10 the columns Of the Frank
farter Zeitung reiterates In that journal,
however, its assertion that all such arrange
nents will he useless unless Bremen 10 pre-
pared TO import cotton largely on specula-
son and TO keep q stock Of some tens of
Thousands Of bales. In order that spinners
may at any time DO able 10 make the seleo-
ton they may happen TO require. Affairs
have como TO such pass, Il 10 added, that
now every Corn an and wlss cotton spinner
10 also cotton sIeeulator. because. In the
absence Of q cheap and ado quate market for
supplying his requirements In Germany,
he 10 obliged TO import his own cot
ton ut the moment when he thinks prices
are relatively low. He thus incurs q risk
which. according to all experience. may re-
suit In serious loss, as tho balance sheets Of
many spinniuG companies have testified
during the lat two years. The German
cotton spinning industry is thus, Ii is S.
serted, placed at disadvAntass In compari-
son with the similar industries Of England
and France, and In support Of this state
nsnt reference 10 made to the successful
competition Of English yarns IN Germany
last sum er In spite OF the protective duties.
the real eIplsnatlon Of such sucrsss icing.
We are told. the relatively lower prices
ct which the English spinners we're
able 10 bug tho TAw material In Liver
p5ol. 1t Was the recognition Of these facts
which Induced tho South Germsn spinnsrs
last ysat 10 Join In the efforts 10 develop the
Bremen market. Be far these Efforts have
resulted only In conferences and resolutions
On pkpe'. his fer the Bremen importing
frms 10 give practical eject TO them; and
much a. the writer's Of the con IN unicstion In
the Rrank.ort raper would rejoice at tuch .
dsnoument, they frankly confess that they
seriously dssbt whether the Bremen Import
srs can DO induced 10 manifest the desired
atsrpriss." .o
Three hundred and ssvsnty-sir shs bran,
10 pkEs batter. 700 rolls baEgins. III pkss
eofh. 10 piss ohsese. I ear cotton
: :sss. ~ brl. sus. (, pts. hats. ITO ps.:
lime. Isl krls me-, s brl. N lss,es. 400 Kegs
nails. 800 bu oa,s. GERS pork sides, So pkE.
rice. $50 brls sugar. SIT PAS tobacco and
3O bu wheat.